VFS INVESTOR ALERT

Robbins Geller Rudman & Dowd LLP Announces that VinFast Auto Ltd. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit

The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of VinFast Auto Ltd. (NASDAQ: VFS; VFSWW) securities: (i) between August 15, 2023 and January 17, 2024, both dates inclusive (the “Class Period”); and/or (ii) pursuant and/or traceable to VinFast’s offering documents issued in connection with the merger consummated on August 14, 2023 with VinFast, Black Spade Acquisition Co., and Nuevo Tech Limited (the “Merger”), have until June 11, 2024 to seek appointment as lead plaintiff of the VinFast class action lawsuit. Captioned Comeau v. VinFast Auto Ltd., No. 24-cv-02750 (E.D.N.Y.), the VinFast class action lawsuit charges VinFast and certain of VinFast’s top current and former executives and directors with violations of the Securities Act of 1933 and/or Securities Exchange Act of 1934.

If you suffered substantial losses and wish to serve as lead plaintiff of the VinFast class action lawsuit, please provide your information here:

https://www.rgrdlaw.com/cases-vinfast-auto-ltd-class-action-lawsuit-vf ...

You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at [e-mail]. Lead plaintiff motions for the VinFast class action lawsuit must be filed with the court no later than June 11, 2024.

CASE ALLEGATIONS: VinFast describes itself as “an innovative, full-scale mobility platform focused primarily on designing and manufacturing premium EVs (“electric vehicles”), e-scooters, and e-buses.” Prior to the Merger, VinFast operated as a publicly traded special purpose acquisition company (SPAC or blank-check company).

The VinFast class action lawsuit alleges that defendants throughout the Class Period and in the offering documents made false and/or misleading statements and/or failed to disclose that: (i) VinFast lacked sufficient capital to execute its purported growth strategy; (ii) VinFast would be unable to meet its 2023 delivery targets; and (iii) accordingly, VinFast had overstated the strength of its business model and operational capabilities, as well as its post-Merger business and/or financial prospects.

The VinFast class action lawsuit further alleges that on October 15, 2023, Bloomberg published an article entitled “VinFast to Expand Into Southeast Asia, Raise More Capital,” which revealed that VinFast would need to raise “a lot of capital” in order to fuel its global expansion plans and would “rely on [financial] support from parent company Vingroup JSC and its founder Pham Nhat Vuong in the next 18 months.” On this news, the price of VinFast ordinary shares fell more than 18%, according to the complaint.